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  • Writer's pictureRealFacts Editorial Team

Fastest-Growing S&P 500 Companies by Second-Quarter Revenue Growth

Super Micro sign

When thinking about the fastest-growing companies in the S&P 500, many investors' minds turn directly to Nvidia. While Nvidia is certainly up there, Super Micro Computer (SMCI) is expected to grow its revenue even more than the AI giant. Super Micro Computer is a company that designs and manufactures high-performance, energy-efficient server and storage solutions for various markets, including AI infrastructure. Their modular and open architecture hardware supports AI workloads and deep learning tasks, making them a valuable partner in the field of artificial intelligence. 

The company is expected to grow its revenue by 142.3% in the second quarter. While discussing this stellar growth, Investors Business Daily author Matt Krantz stated, “It even would edge out Nvidia's expected 109.9% revenue growth in the quarter. And in third place? Micron Technology (MU) is seen putting up 77.9% higher revenue in the period.” This revenue growth highlights why semiconductor stocks are performing exceptionally well this year. The iShares Semiconductor ETF (SOXX) is up more than 32% year-to-date, outpacing the S&P 500 by over 16%.

Graph of Companies and their Q2 2024 reviews

 In terms of stock growth, Super Micro Computer is up 191% this year, while Nvidia has seen a 162% gain since January 1. Although AI companies are showing strong revenue growth, they aren’t the only sector with companies expecting significant revenue increases. Krantz stated, “Energy firm Oneok (OKE) is expected to post 60.1% higher revenue in the second quarter. And real estate firm Extra Space Storage (EXR) is to boost revenue by 58.4%.” The following chart shows additional companies expected to see the fastest second-quarter revenue growth among S&P 500 companies.


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